Cities
DC-Area Portfolio Trades for $302M
FCP sold 11 communities in St. Charles, Md., to an affiliate of Strata Equity Group, after purchasing the properties in 2009 from American Community Properties Trust.
Strengthening Economy Pushes Growth in Columbus
The city’s multifamily market is finally hitting its stride as rent growth is coming into its own, while the rate of inventory expansion is poised to remain elevated.
ABI Expands Sacramento Team With New VP
With a background in both tech and finance, Tyler Justesen most recently worked as director of marketing at United Capital Investments.
Insula Cos. Offloads Tampa Community for $21M
The asset sits a mile north of the University of South Florida’s campus and consists of 168 two-bedroom townhouse units.
Silverstone Healthcare to Open Dallas Assisted Living
HarborChase of the Park Cities will feature 134 assisted living and social and educational services, medication management and housekeeping.
FL Townhome Development Lands $7M Loan
RARE CRE secured financing for the construction of The Preserve at Hypoluxo, a 44-unit upscale community in Lantana, that includes a retail component.
Manhattan Apartment Prices Continue to Drop: Halstead
The median cost has remained unchanged from quarter four of 2017 but dropped 1 percent from the previous year, according to the company’s most recent report.
Andover Real Estate, M Group Pick Up MI Asset
The buyers financed the acquisition with a $16 million Fannie Mae Green Rewards loan originated by Hunt Mortgage Group.
Rent Growth Continues in Sacramento
California’s capital city again led the nation in multifamily rent growth in 2017. This year, a surge of 1,100 new apartments is poised to push rates up by a more moderate 7.2 percent.
CBRE Provides $14M for Historic Cincinnati Asset
The company closed the refinancing of The Reserve at 4th and Race, an 88-unit community in the CBD. Mark Tran, senior vice president of CBRE Columbus, originated the loan.